CEO Interview - HY Results 2023 – Acrobat pdf 159k 15 February 2023 Interview with Pro Medicus CEO, Dr Sam Hupert, where he discussed: First half results Commentary on 2nd half Shift to Cloud Recent wins and pipeline KLAS award for best Universal Viewer
15 February 2023; Pro Medicus Limited Half Year Results - Acrobat pdf 135k Highlights Revenue from ordinary activities $56.89m - up 28.3% Underlying profit before tax #37.22m - up 30.0% New profit $27.19m - up 31.5% Cash reserves and other financial assets $94.53m - up 4.4% Company remains debt-free Fully-franked interim dividend 13c per share Leading health imaging company Pro Medicus Limited [ASX: PME] today announced a half-year net profit of $27.19 million for the six months to the end of December 202, 31.5% higher than for the previous corresponding period. Revenue from ordinary activities increased by 28.3% to $56.89 million. The company's cash reserves and other financial assets at 31 December 2022 were $94.53 million - up 4.4%. Pro Medicus announced a fully-franked interim dividend of 13c per share. The company remains debt free. The period represented the strongest half-year in the company's history. During the six months, Pro Medicus made the following key announcements: Three contract wins with a combined minimum value of A$16.5 million: Montage Health, a regional health system in Monterey, California. Children's Hospital of Philadelphia (CHOP), one of North America's leading academic children's hospitals. Bay Imaging Consultants, a private radiology group in San Francisco. The University of Florida (Gainesville and Jacksonville) re-contracted for a further seven years, with a minimum contract value of A$15.5 million. A $15 million 7-year contract with Luminis Health, a Maryland-based not-for-profit integrated delivery network that serves communities in central Maryland from Washington DC to Delaware. The company continued to grow in the North American market during the period (revenue up 38.6%) with three major implementations completed - Novant Health, Allina Health and Inova Health and is actively pursuing a growing number of opportunities in key
30 January 2023; PME Signs Samaritan Health Services - Acrobat pdf 114k Highlights PME signs 8-year, AUD $12M deal with Oregon-based Samaritan Health Services Visage to replace legacy PACS throughout the Samaritan Health Services network Contract includes Visage 7 Open Archive and Visage 7 Workflow in addition to Visage 7 Viewer Visage 7 platform to be installed in the cloud Continues PME’s rapid expansion into North American integrated delivery networks Transaction-based model with potential upside Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned U.S. subsidiary, Visage Imaging, Inc., has signed a $12M, 8-year contract with Oregon- based Samaritan (“Samaritan”) Health Services, a community-based, integrated delivery network (IDN) based in Oregon. Samaritan has five hospitals in the mid-Willamette Valley and central Oregon Coast. Based on a transactional licensing model, the contract will see the company’s cloud-engineered Visage 7 Enterprise Imaging Platform (‘Visage 7’), including Visage 7 Open Archive and Visage 7 Workflow modules, implemented throughout Samaritan providing a unified diagnostic imaging platform across the network. Planning for the rollout is to commence immediately and will be based on Visage’s proven cloud-based implementation process, with initial go-lives targeted for the second half of the 2023 calendar year. “Samaritan joins our growing list of IDN clients and will reinforce our strong presence in the Northwest region of the United States,” said Dr Sam Hupert, Pro Medicus CEO. “IDNs are the largest market segment in North America, and this is our fifth material IDN contract in the last 12 months.” Samaritan has opted for a fully cloud-based solution, a trend that has continued to spread across the North American healthcare IT market. “This deal represents another “full-stack” Visage 7 solution comprising all three Visage products
20 January 2023; Company Announcement - UW Medicine - Acrobat pdf 115k Highlights PME signs 7-year, AUD $25M deal with Seattle-based UW Medicine Visage to replace legacy PACS throughout the UW Medicine network Contract includes Visage 7 Open Archive and Visage 7 Workflow in addition to Visage 7 Viewer Visage 7 platform to be fully deployed in the cloud Continues PME’s rapid expansion into North American Tier 1 academic institutions Transaction-based model with potential upside Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly- owned U.S. subsidiary, Visage Imaging, Inc., has signed a $25M, 7-year contract with the University of Washington’s UW Medicine, a Tier 1 academic health system based in Seattle, Washington. UW Medicine has multiple campuses throughout the Seattle area and employs 29,000 healthcare professionals, researchers, and educators. It is also the home of the highly regarded University of Washington School of Medicine. Based on a transactional licensing model, the contract will see the company’s cloud-engineered Visage 7 Enterprise Imaging Platform (‘Visage 7’), including Visage 7 Open Archive and Visage 7 Workflow modules, implemented throughout UW Medicine providing a unified diagnostic imaging platform across the network. Planning for the rollout is to commence immediately and will be based on Visage’s proven cloud-based migration and implementation process, with initial go-lives targeted for the second half of the 2023 calendar year. UW Medicine has opted for a fully cloud-based solution, a trend that has taken a major foothold in the North American healthcare IT market. “UW Medicine joins our growing list of Tier 1 academic clients and will provide us with a strong presence in the Northwest region of the United States,” said Dr Sam Hupert, Pro Medicus CEO. “With its highly regarded
22 December 2022; Company Announcement - Luminis Health - Acrobat pdf 115k Highlights PME signs 7-year, AUD $15M deal with Luminis Health Visage to replace legacy PACS throughout the Luminis Health network Contract includes Visage 7 Open Archive and Visage 7 Workflow, in addition to Visage 7 Viewer Visage 7 platform to be installed in the cloud Continues PME’s rapid expansion into North American integrated delivery networks Transaction-based model with potential upside Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned U.S. subsidiary, Visage Imaging, Inc., has signed a $15M 7-year contract with Luminis Health. Luminis Health, an Annapolis, Maryland based not-for-profit integrated delivery network (IDN) serves communities in central Maryland from Washington, DC to Delaware. Based on a transactional licensing model, the contract will see the company’s cloud-engineered Visage 7 Enterprise Imaging Platform (‘Visage 7’), including Visage 7 Open Archive and Visage 7 Workflow modules, implemented throughout Luminis Health providing a unified diagnostic imaging platform across the network. Planning for the rollout is to commence immediately and will be based on Visage’s proven cloud-based implementation process with initial go-lives targeted for the first half of the 2023 calendar year. “IDN’s constitute the largest market segment in North America and we continue to build momentum in this segment with this, our fourth material IDN contract in the last 12 months,“ said Dr Sam Hupert, Pro Medicus CEO. “It also serves to highlight that our solution is equally well suited to mid-sized IDN’s as it is to the large ones, confirming our view that our total addressable market in the IDN space is very significant." Luminis Health joins an increasing number of new Visage clients to opt for a fully
29 August 2022; Company Announcement - 3 Contracts - UF Renewal - Acrobat pdf 110k Highlights Signs three new customer contracts with a combined minimum value of A$16.5M Renews a 7-year, A$15.5M contract with University of Florida Renewal negotiated at an increased fee per transaction New and renewal contracts are transaction-based with potential upside Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned U.S. subsidiary, Visage Imaging, Inc., has signed three new contracts with a combined minimum value of A$16.5M. The contracts are with Montage Health, a regional health system in Monterey California, Children’s Hospital of Philadelphia (CHOP), one of North America’s leading academic children’s hospitals and Bay Imaging Consultants, a private radiology group in San Francisco. All three implementations will be fully Cloud deployed and are expected to be completed within the next 6 months. The company also announced that the University of Florida (Gainesville and Jacksonville) has re-contracted for a further seven years. The deal, with a minimum contract value of A$15.5M, has been negotiated at a higher per transaction cost than the original pay per view contract. Referring to the new clients, Dr Hupert said, “These are three very different organizations which highlights the fact that our offering is ideally suited to a broad range of diagnostic imaging market segments. From a product perspective, our total addressable market (TAM) ranges from a private imaging practice in Melbourne to some of North America’s and the world’s top academic centers and anything in between.” Dr Hupert added, “With the University of Florida renewal, we have been successful in continuing our aim of 100% client retention. The fact that they have re-signed for seven years, we see as a
CEO Interview - FY Results 2022 – Acrobat pdf 151k 18 August 2022 Interview with Pro Medicus CEO, Dr Sam Hupert, where he discussed: Full-year results Contract wins and renewals Margins and retained earnings Update on New York R&D Hub Pipeline
18 August 2022; Company Announcement - Full Year Results 2022 Final - Acrobat pdf 123k Highlights Revenue from ordinary activities $93.5m – up 37.7% Underlying profit before tax $62.4m – up 46.8% Net profit $44.4m – up 44.1% Cash and other financial assets $90.6m – up $28.8m Company remains debt-free Fully-franked final dividend 12c per share Leading health imaging company Pro Medicus Limited [ASX: PME] today announced a full- year net profit of $44.4 million for the year to the end of June 2022, 44.1% higher than for the previous corresponding period. Revenue from ordinary activities increased by 37.7% to $93.5 million. The company's cash and other financial assets at June 30 2022 were $90.6 million, up $28.8 million, an increase of 46.5%. Pro Medicus announced a fully-franked final dividend of 12c per share, making the full year dividend 22c fully-franked, an increase of 47%. The company remains debt-free. During the year Pro Medicus announced the following key contract wins: A $40M, 7-year contract with Novant Health, Inc, a community-based Integrated Delivery Network (IDN) headquartered in North Carolina, USA, spanning three states, including 15 medical centres and hundreds of outpatient facilities and clinics. A $32M, 8-year contract with Inova Health System, the leading not-for-profit healthcare provider in Northern Virginia, USA. Inova Health’s 20,000+ team members service more than two million patient visits per year. A $28M, 7-year contract with Allina Health, a not-for-profit healthcare system based in Minneapolis, USA, which has 28,000 employees and 6,000 associated and employed physicians and operates 11 hospitals and more than 90 clinics throughout Minnesota and Wisconsin. Fourth extension of the German Government contract, Visage 7.0 being deployed to a large government hospital in the Hamburg region. Two key contract
14 June 2022; Company Announcement - Sutter Health and WellSpan Health Contract Renewals - Acrobat pdf 113k Highlights Signs two contract renewals with a combined minimum value of A$47M Sutter Health renews for seven years - WellSpan Health for five Contract renewals transaction-based with potential upside Renewals negotiated at an increased fee per transaction Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned U.S. subsidiary, Visage Imaging, Inc., has signed two key contract renewals with a combined value of A$47M. Sutter Health, a large IDN based in Sacramento, California has signed for a further seven years, and WellSpan Health based in Pennsylvania for a further five. Both deals are transaction-based with committed minimums and have been negotiated at a higher per transaction cost than their original contracts. "The industry norm for renewals is for short extensions to the original contract at the same or lower price," said Dr Sam Hupert, Pro Medicus CEO. "The fact that our clients have renewed for a full or longer term contract term at an increased price supports our belief that the Visage solution delivers unparalleled value both in terms of financial and clinical ROI." "Whilst it is still early days, our renewal success rate sends a positive message to the market and helps build on the network effect that we have been experiencing."
2 June 2022; Company Announcement - Allina Health - Acrobat pdf 113k Highlights PME signs 7-year, A$28M deal with Allina Health Visage to replace legacy PACS throughout the Allina Health network Contract includes Visage 7 Workflow and Visage 7 Viewer Visage 7 platform to be installed in the cloud Continues PME’s rapid expansion into North American integrated delivery networks Transaction-based model with potential upside Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned U.S. subsidiary, Visage Imaging, Inc., has signed a A$28M, 7-year contract with Allina Health. Allina Health, a not-for-profit health care system based in Minneapolis, Minnesota, has 28,000 employees and 6,000 associated and employed physicians and operates 11 hospitals and more than 90 clinics throughout Minnesota and Wisconsin. Based on a transactional licensing model, the contract will see the company’s Visage 7 Enterprise Imaging Platform (“Visage 7”) and Visage 7 Workflow module implemented throughout Allina Health, providing a unified diagnostic imaging platform across the network. Planning for the rollout will commence immediately and will be based on Visage’s proven cloud native implementation process with initial go-lives targeted for the second half of the calendar year. “This is our fifth major contract in the North American integrated delivery network (IDN) space in 18 months, underpinning the strong momentum we continue to build in this important segment of the market,” said Dr Sam Hupert, Pro Medicus CEO. “IDN’s are growing because of the trend towards value-based medicine coupled with industry consolidation. Our Visage 7 platform is ideally suited to meet their needs with its unparalleled speed, scalability, and proven cloud capability.” Allina Health joins an increasing number of Visage clients to opt for a fully cloud-based solution, a trend that has